a. Predict whether the $199 price tag on the Utopias is at, above, or below marginal cost

(i) in the short run (ii) in the long run

b. Do you think that Samuel Adams’ Utopias makes the market for beer inefficient?

Samuel Adams Utopias is an ultra-rich, port-like beer, which is meant to be sipped and not guzzled. It has a high 28 percent alcohol content. Its price tag is $199 for a ceramic decanter containing 24 ounces. This volume is the equivalent of two cans of beer, or a bit less than a standard-sized (750-ml) bottle of wine.